Nio and Xpeng are the top electric car makers in China, and with electric vehicles stocks popularity in investment, many business people are quick to compare the two carmakers. Many investors are looking to become a part of the hottest deals, the EV Industry with its rapidly growing popularity. From traditional car manufactures to startup companies, all are scrambling to attract more shares. In electric vehicle dominance, Tesla leads other manufacturers with their recent first-quarter deliveries of 184,800 cars beating experts’ forecasts. Still, the main question remains whether other digital carmakers can match Tesla and compete for the top position?
The recent world move to electric vehicles and chip shortage has a significant impact on EV stocks, making the best EV stocks to work under pressure in a broad market. Despite the chips’ lack, Nio and Xpeng have recorded outstanding results for their first-quarter reports making investors rest easy. We will look out which of the two companies’ stocks are better than the other.
Nio is a Chinese-based electric carmaker recording tremendous success in both the stock market and the China EV market. The company’s stock has risen by over 1000% in the past year, resulting from its strategic move in solving their battery-related issues. Nio offers a battery pack subscription and gives an $11,000 discount for all subscribers. This move has helped customers replace batteries comfortably, which is its post-purchase strength.
Nio reports maximum delivery of 20,060 cars for the quarter-year update, which is more than the forecasted amount of 19,500. The company is also expanding in the European market and plans to use the local market approach to attract customers. This year, it plans on achieving a 300,000 capacity.
Xpeng Inc is the leading innovative carmaker since it designs, makes, and markets digital cars with remarkable driving technologies and AIs. It recently announced an investment funding of $78 million, which targets improving the company’s EV production. Also, it held a driving expedition using the company’s P7 lineup.
The first-quarter report has 13,340 capacity deliveries, a 487% increase from last year’s report demonstrating its rapid growth. Besides, the company is working on improving its marketing, broadening sales, and creating a robust charging network. Unlike Nio, Xpeng has various products, including LFP batteries.
Nio stock Vs Xpeng Stock
Based on the information above, both companies are giant EV makes and not direct competitors. Nio has a powerful battery service option and is working on venturing into other electric vehicles’ market and an aggressive capacity. On the other hand, Xpeng focuses more on intelligent production with well-advanced technologies and batteries addressing market problems. Additionally, both companies show impressive developments. The information above points out that China is the largest EV market globally, and both Nio and Xpeng have a role to play to maintain this record.